Park Gramercy is an investor-friendly full service condop with no Board approval required. Unlimited subletting from day 1, pied-à-terres, gifting, and parents buying for or with children allowed. There is no minimum downpayment. Welcome home to this spacious, bright alcove studio in a full-service building less than one block from tranquil Gramercy Park. Located on the corner of 22nd and Lexington Avenue, this south and east facing 600sqft apartment features six large windows, hardwood floors, beamed ceilings, a separate dressing area, 3 large closets (2 of the closets are deep enough for double hanging rods, and 1 is a walk-in closet), and a beautiful newly renovated kitchen with stainless steel appliances, including a dishwasher, and ample soft-close cabinetry. The apartment has a through-wall A/C. A king sized bed with nightstands will fit comfortably in the apartment. The living room area fits a large sofa, and the dining alcove allows for a large dining table or a large WFH setup. There is a tenant in place until end of February and the current cap rate is 3. 2% at the asking price. There is a 24 hour doorman, live-in super, and the lobby has recently been beautifully renovated. The building features a laundry room, bike room, storage, and a huge roof garden with parasol tables, lounge chairs, and expansive Manhattan views. Five blocks from Union Square, this apartment is perfectly situated close to shopping, eateries, and transportation (the NQR, 456, and L trains in Union Square, the 6 train is on 23rd and Park, Citibike stations and buses are nearby). The building is also near multiple grocery stores, including Morton Williams, Trader Joe’s, Whole Foods, and Westside Market, multiple Duane Reades, delis, and gyms. This studio apartment has everything you need: - Ideal location: just north of Gramercy Park, close to public transportation (NQR, 456, L trains, Citibike, buses), trendy restaurants, shopping, grocery stores, etc. - Approx 600sqft - Spacious living area – large enough to have a full living room set and separate desk/office area - Easily fits king-sized bed - A large dining area - A newly renovated kitchen with stainless steel appliances (incl. dishwasher) - Ample closet space: 3 large closets including a dressing area with walk-in closet - Natural light through six windows (4 of which are south facing) - Very quiet - Stunning Lobby - Elevator building - 24-hr Doorman - Live-in Resident Manager - Laundry in the building - Gorgeous furnished roofdeck with views
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NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $620,000 | $620,000 | $620,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.339% | 7.017% | 6.120% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,073 | $4,073 | $5,190 |
Total Monthly Payment | $4,165 | $4,165 | $5,282 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.